What is the Singapore dollar (SGD)?
When Singapore joined Malaysia in 1963, it shared in Malaysia’s common currency. However, Singapore was expelled and became independent in 1965 and lost its monetary union. In 1967 Singapore established a Board of Commissioners of Currency and released its own notes called the orchid. The orchid is now known as the dollar (SGD). The dollar is pegged to the Brunei dollar at a rate of 1:1. Both currencies are accepted in both countries as legal tender.
